Related Midwest, Chicago office of developer Related Cos., just secured an anchor for The 78, a 62-acre master-planned community in Chicago for which the company is serving as master developer. The University of Illinois System will build Discovery Partners Institute (DPI), a $1.2 billion public-private research and innovation center, on what is Chicago’s largest undeveloped parcel of land.
Related Midwest is developing The 78 – named for its position as the newest of Chicago’s 77 community areas – on a half-mile stretch of the south branch of the Chicago River. The development will ultimately offer residential, commercial, institutional, cultural and recreational accommodations.
Ultimately DPI will host up to 90 faculty members and 1,800 graduate and undergraduate students who will work at the institute and other businesses across the city for one to four semesters.
The 78 is also on the list of potential sites for the location of Amazon’s second North American headquarters – the $5 billion Amazon HQ2 – as part of Chicago Mayor Rahm Emanuel’s and Illinois Governor Bruce Rauner’s bid to bring the online retailer to Chicago.